List four protectionist policies
What will be an ideal response?
Protectionist policies include import bans, import quotas, voluntary export restraints, and tariffs.
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Mark spends his weekly income on gin and cocktail olives. The price of gin has risen from $7 to $9 per bottle, the price of cocktail olives has fallen from $6 to $5 per jar, and Mark's income has stayed fixed at $46 per week. If you measure gin on the vertical axis and cocktail olives on the horizontal axis, then the budget constraint
a. is steeper after the price changes. b. is flatter after the price changes. c. is the same after the price changes. d. shifts in a parallel fashion to the old budget constraint after the price changes.
Briefly describe the three prominent schools of thought in political philosophy. Identify one of the most well-known philosophers in each school